Loan Modification Financial Hardship Letters - An Helpful Way to Plead Your Case

"Directors of every company (whether subject to audit or not) are responsible for ensuring that the company maintains proper accounting records and for preparing financial statements, which give a true and fair view in accordance with Generally Accepted Accounting Practice in Ireland including the accounting standards issued by the Accounting Standards Board and the Companies Acts, 1963 to 2006".

the discussions below deal specifically with common Financial Reporting disclosure issues, which arise in the Directors Report. Part B of this publication will deal with disclosure issues arising in the Auditors/Accountants Report while Part C will deal with disclosure issues arising in the Notes to the financial statements.

Risks ; Uncertainties

Section 13 of the Companies (Amendment) Act, 1986 (amended for Statutory Instrument No 116 of 2005) requires the directors of a company to identify the risks and uncertainties it's company faces and to disclose these in the Directors Report accompanying the company's financial statements.

Interests of Director's ; Secretary

Section 63 requires disclosure that no such interests were held if that is the case for a particular company.

Confusion often arises with regard to where in the Financial Statements such disclosures should be made. There are two options; as a paragraph in the Directors Report or alternatively in the Notes to the Financial statements.

Common Financial Reporting Disclosure Issues - (Part 1) Directors Report

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Foreclosure Help? Take a look at the Loan Modification Financial Hardship Letters on our website, and contact us if you think we can help you.These Loan Modification Financial Hardship Letters will assist you taking back control of your finances and planning your future during these difficult times.